Aggregate Output, Prices, and Economic Growth: A CFA Level 1 Guide
PREREQUISITE LESSON
This lesson is a prerequisite for the course. While you won’t be directly tested on its content in the exam, it’s assumed you’ve gained this knowledge or skill during your university studies. We strongly recommend reviewing this lesson, as its content may be essential for understanding subsequent parts of the curriculum.
Ready to dive into the fascinating world of aggregate output, prices, and economic growth? This guide will help you master the essential concepts for the CFA Level 1 exam. Let’s jump right in!
PRE: Introduction to GDP
Embark on a macroeconomics adventure, exploring aggregate output, prices, and economic growth. Master GDP, its calculation approaches, and the difference between nominal and real GDP, topped off with the all-important GDP deflator.
► Unlock the secrets of GDP here.
PRE: Components of GDP
Get to the heart of GDP components and learn about the flows of output, income, and expenditure in the economy. Delve into the expenditure and income approaches to GDP, and discover personal income and saving, and the relationship among savings, investment, fiscal balance, and trade balance.
► Dive deeper into GDP components here.
PRE: Aggregate Demand and Aggregate Supply
Master the intriguing world of aggregate demand and aggregate supply curves, grasping the basics and exploring the different supply curve slopes in the very short, short, and long run.
► Unravel aggregate demand and supply curves here.
PRE: Shifts in Aggregate Demand and Supply
Dive into the forces that drive shifts in aggregate demand, long-run aggregate supply, and short-run aggregate supply, while exploring the roles of household, business, monetary, fiscal, and international factors in these dynamics.
► Uncover the factors behind aggregate demand and supply shifts here.
PRE: Macroeconomic Equilibrium
Explore the thrilling dance of aggregate demand and aggregate supply, reaching short-run and long-run macroeconomic equilibrium, while uncovering the four types of fluctuations that can shake up the economy.
► Waltz through macroeconomic equilibrium and fluctuations here.
PRE: Economic Growth and Sustainability
Dive into the five essential sources of economic growth, the production function, and labor productivity. Discover how labor supply, physical capital stock, human capital, technology, and natural resources contribute to long-term growth and sustainability.
► Explore the driving forces behind economic growth here.
